Bitcoin / Yen may fall to 9875700 - 9960400

10246800 is our pivot point.

Our preference

The downside prevails as long as 10246800 is resistance.

Alternative scenario

Above 10246800, look for 10389100 and 10473800.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10236792 and 10270539).

Supports and resistances

10473800 **

10389100 *

10246800 **

10190900

10134978 last

9960400

9875700 **

9791100 *

9706400 **

Number of asterisks represents the strength of support and resistance levels.